Truss Era Ends after 50 Days With Speech Warning About High Tax and Low Growth

Outgoing UK Prime Minister Liz Truss has made her final speech in power before meeting the King to formally resign, in which she quoted stoic philosopher Seneca and laid the ground for a future ‘told you so’ moment on the dangers of high taxes and low growth.

Speaking from the steps of 10 Downing Street Tuesday morning Liz Truss, who has been the Prime Minister for just 50 days including today, gave a speech which briefly touched on her achievements in power — there aren’t many, after all — but spent more time laying out what needs to be done next.

Talking about the few policy announcements of her government that haven’t already been reversed by the assassin of the Sunak government — Jeremy Hunt, who was widely perceived to be pushing through a globalist coup against Truss from the inside in her final weeks — Truss name-checked the winter fuel support measures and the reversal of a tax rise.

Citing another area of major progress, although again it is unclear whether these measures will survive the change in government, Truss said “We are taking back our energy independence, so we are never again beholden to global market fluctuations or malign foreign powers”, a reference to the important work in legalising fracking in the UK, allowing more drilling in the North Sea, and clearing the way for new nuclear.

A legacy member of Boris Johnson’s destructively green government, it is entirely possible that Sunak will reverse these measures, particularly the essential bridge of fracking for gas, which enjoys a particular focus of hatred among the globalist organisations which Sunak is seen to be associated with.

But, quoting stoic philosopher Seneca who urged leaders to make difficult decisions, Truss was more involved in laying out her vision for Britain — perhaps the one she would liked to have seen enacted under her, had events not conspired against her — in a list that sounded like a warning for Sunak as much as anything.

“We simply cannot afford to be a low-growth country where the government takes up an increasing share of our national wealth”, Truss said, in a warning against ever-rising taxation, before calling for a move to increase freedom, opportunities, and democracy in the United Kingdom, by taking advantage of the opportunities presented by Brexit.

Truss then traveled to the palace to meet King Charles III. In the brief period between her resignation and Sunak being invited to form a government, the country is without a Prime Minister, with full executive power returned to the King. In short, the country is briefly an absolute monarchy.

Read Liz Truss’s speech:

We simply cannot afford to be a low-growth country where the government takes up an increasing share of our national wealth.

It has been a huge honour to be Prime Minister of this great country. In particular, to lead the nation in mourning the death of Her Majesty the Queen after 70 years of service, and welcoming the accession of King Charles III. In just a short period this government has acted decisively and urgently on the side of hard-working families and businesses.

We reversed the national insurance increase, we helped millions of households with their energy bills, and helped thousands of businesses avoid bankruptcy. We are taking back our energy independence, so we are never again beholden to global market fluctuations or malign foreign powers.

From my time as Prime Minister, I am more convinced than ever that we need to be bold and confront the challenges that we face. As the Roman philosopher Seneca wrote, it is not because things are difficult that we do not dare, it is because we do not dare that they are difficult.

We simply cannot afford to be a low-growth country where the government takes up an increasing share of our national wealth. And where there are huge divides between different parts of our country. We need to take advantage of our Brexit freedoms to do things differently, this means delivering more freedom for our own citizens and restoring power to our democratic institutions.

It means lower taxes so people can keep more of the money that they earn. And it means delivering growth, that will lead to more job security, higher wages, and greater opportunities for our children and grandchildren.

Democracies must be able to deliver for their own people. We must be able to out-compete autocratic regimes where power lies in the hands of a few. And now more than ever, we must support Ukraine in their brave fight against Putin’s aggression. Ukraine must prevail, and we must continue to strengthen our nation’s defences. That’s what I’ve been striving to achieve, and I wish Rishi Sunak every success for the good of our country.

… Our country continues to battle through a storm, but I believe in Britain. I believe in the British people. And I know that brighter days lie ahead. Thank you.